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NWT mint files for bankruptcy.

Discussion in 'Purchasing Precious Metals' started by 917601, May 24, 2016.



  1. 917601

    917601 Mother Lode Found Mother Lode

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    Anyone hear this news? If a double post, disregard......also, Tulving is now in jail (NC prison) but may be exonerated and released due to new developments in the case....

    http://www.zerohedge.com/news/2016-...candal-investors-had-fair-warning-blowup-well

    And more on Tulving...

    "For those that may not be following the situation closely, there have been concerns based on information recently discovered that Hannes may in fact not be guilty -- which becomes even more unusual since the U.S. Attorney's Office will not respond to queries about it (not even the "No Comment" that they frequently give). Some creditors have contacted the prosecutors with these concerns, and I am not aware of them responding (despite the law, of which the sponsors said "the victim has the right to confer with the Government concerning any critical stage or disposition of the case")..."
     
    Last edited: May 24, 2016
  2. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    hey up numbers,

    yeah, we had some threads on that awhile back,

    all those stories over the years were certainly symptomatic of this type of development for sure.

    extended deliveries are never a game I want to get involved in
     
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  3. Goldhedge

    Goldhedge Modal Operator/Moderator Site Mgr Site Supporter

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  4. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

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    Funny I got an email from NWT at the weekend trying to "sell"me stuff
     
  5. Cigarlover

    Cigarlover Gold Member Gold Chaser

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    It seems that GIM is ahead of the curve when a company seems to be having problems. Based on past posts I can say I have always avoided them.
     
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  6. GOLD DUCK

    GOLD DUCK Mother Lode Found Mother Lode

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    QWAK,Get cought enough times eventualy you get punished!:thumbs down:

    the DUCK :winks2:
     
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  7. About.Ag

    About.Ag Seeker Seeker

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    Caught what?
     
  8. GOLD DUCK

    GOLD DUCK Mother Lode Found Mother Lode

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    QWAK,About.Ag,For many MANY years NWTM has been playing with other peoples $$$ and using it for 60 to 90 days before shipping orders or returning there $$$$. :thumbs down:

    The BBB has long lists of customer complaints and court actions agenst NWTM.:thumbs down:

    the DUCK :winks2:
     
  9. About.Ag

    About.Ag Seeker Seeker

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    Ah, I misread your post.

    Yes, NWT has been doing exactly that (and worse, the State of Washington's Attorney General essentially gave it their blessing back in 2008). And worse (again) is that they were even using stored metals (in a segregated account).
     
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  10. GOLD DUCK

    GOLD DUCK Mother Lode Found Mother Lode

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    QWAK,THE crooks are being EXPOSED like floating TURDS!:thumbs down:

    the DUCK :winks2:
     
  11. Usury

    Usury Gold Chaser Platinum Bling

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    You have a source for the Tulving rumors?
     
  12. About.Ag

    About.Ag Seeker Seeker

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    That would be me.

    For example, the Trustee filed an adversary lawsuit in March against someone the Trustee claims took millions of dollars out of the The Tulving Company through fraudulent transfers. In that lawsuit, he includes as exhibits the 2006 lease agreements for Hannes' apartment and his supposed home office. If you look at the apartment lease, you'll see that Hannes did sign it. But an eagle-eyed reader of mine pointed out that the home office lease was just a photocopy of the first lease, with the address altered, "approved" just with the landlord's initials. The 2011 lease agreements for the apartment and home office were not signed by Hannes, but instead by an associate of the landlord (acting on behalf of The Tulving Company), and appear to be altered as well. The real estate agent that prepared the lease appears to have been living in the home office when the lease was signed, as was the landlord's contractor, who the Trustee says received over $50,000 in payments from The Tulving Company for work on a car repair building that The Tulving Company had nothing to do with.
     
    Last edited: May 25, 2016
  13. Usury

    Usury Gold Chaser Platinum Bling

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    So $50k put Tulving out of business? I find that unlikely.
     
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  14. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Sounds more like Tulving and associated fellow travelers were playing games with company funds at the end to try to milk whatever cash they could out of the carcass. If he is already serving time there is a thing called an "appeal". If there was fraud going on, those individuals should be charged and tried, not let the main crook out of jail.
     
  15. About.Ag

    About.Ag Seeker Seeker

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    Me too!

    It's the $1.9M of alleged fraudulent transfers -- in addition to the unknown amounts of other, unidentified transfers, that put Tulving out of business. The $50K was just to a buddy of the guy who was sued for $1.9M of fraudulent transfers.
     
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  16. About.Ag

    About.Ag Seeker Seeker

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    I see inappropriate activity going on back to at least 2006 (forged documents, with presumed lease payments going along with them). That's more than 7 years of looting.

    My sense is that Hannes feels guilty about what happened to his customers (as I would if I ran a business for 20+ years and someone came in and destroyed it), and is OK with his punishment. Whether or not he is guilty in the eyes of the law remains to (or may never) be seen. I agree that the focus should be on anyone else involved, and Hannes can choose to appeal if he so desires.
     
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  17. 917601

    917601 Mother Lode Found Mother Lode

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    Hannes always did a good deal with me....I remember him personally sending me MS graded deep cameo proof Platinum Eagles when he could not supply a roll of the common BU ones, no charge....." Tulving" did disappoint me on a few monster box delivery dates, but Mr Hannes always made it right when I could contact him.
     
  18. JayDubya

    JayDubya Gold Chaser Platinum Bling

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    I never swung a big enough bat to play in his ballpark. I'm sure he'd of had a snide comment or two if someone the likes of me, ever tried to have a conversation with the likes of him
     
  19. goldielox1

    goldielox1 Seeker Seeker

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    $1.9 million didn't put him out of business either (He owed $10's of millions didn't he?). Not hedging his inventory, thus gambling with the commodities markets did (as I said years ago when there were rumors about him being in trouble and not delivering).
     
  20. dacrunch

    dacrunch Gold Chaser Platinum Bling

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    I really liked their 100oz bricks... Even if they took 6 weeks to arrive.
     

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